Industry News
Marcolin Eyewear Group Reports Strong Margins in First Nine Months of 2024
Italian eyewear company Marcolin has announced improved profit margins for the first nine months of 2024, despite facing a challenging global economic environment. The company's adjusted EBITDA reached €65.7 million, representing 16.1% of net sales, up from 15.3% in the same period last year.
While revenues remained relatively stable, the group reported a slight decline in overall sales. Net sales for the period stood at €408.0 million, down 3.2% compared to the previous year. However, on a like-for-like basis, excluding the impact of new and discontinued brands, revenues actually increased by 0.6%.
Regional Performance
The EMEA and Americas regions continued to be Marcolin's primary markets:
- EMEA: Revenues of €202.0 million, up 3.6% on a like-for-like basis
- Americas: Revenues of €151.0 million, down 6.4% on a like-for-like basis
Notably, the Asian market showed significant growth, continuing its positive trend from recent years.
Financial Position and Brand Portfolio
Marcolin's adjusted net financial position improved by €6.9 million compared to the end of 2023, reaching €337.4 million. This improvement was attributed to positive cash flow generated from operational activities.
The company also announced several key developments in its brand portfolio:
- Renewed licenses with GCDS, Zegna, MAX&Co., and Skechers
- New exclusive agreements with:
- Christian Louboutin (debut in eyewear category set for early 2025)
- K-Way® (for sunglasses, optical frames, ski goggles, and kids eyewear)
- Abercrombie & Fitch Co. (for Abercrombie, Abercrombie Kids, and Hollister brands)
These new partnerships further solidify Marcolin's position as a leading player in the global eyewear market, with a diverse portfolio of both house and licensed brands. Despite the ongoing international geopolitical uncertainties, Marcolin's ability to improve margins and expand its brand offerings demonstrates the company's resilience and strategic focus on growth in the competitive eyewear industry.
